5609.0 - Housing Finance, Australia, Sep 2013 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 11/11/2013   
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SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed (Tables 11, 1 & 2)

The total value of dwelling commitments excluding alterations and additions (trend) rose 0.8% in September 2013 compared with August 2013 and the seasonally adjusted series rose 5.3% in September 2013.

The total value of owner occupied housing commitments (trend) rose ($68m, 0.4%) in September 2013. Rises were recorded in commitments for the purchase of established dwellings (up $69m, 0.5%) and commitments for the construction of dwellings (up $8m, 0.5%), while a fall was recorded in commitments for the purchase of new dwellings (down $10m, 1.0%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 5.3% in September 2013.

The total value of investment housing commitments (trend) rose ($131m, 1.5%) in September 2013 compared with August 2013. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $65m, 0.8%), commitments for the construction of dwellings for rent or resale (up $34m, 6.3%) and commitments for the purchase of dwellings by others for rent or resale (up $32m, 4.2%). The value of investment housing commitments seasonally adjusted rose 5.2% in September 2013.

INVESTMENT HOUSING - TOTAL
Graph: INVESTMENT HOUSING - TOTAL



Number of Owner Occupied Dwellings Financed (Tables 1 & 2)

The number of owner occupied housing commitments (trend) rose (up 198, 0.4%) in September 2013, following a rise of 0.7% in August 2013. Rises were recorded in commitments for the refinancing of established dwellings (up 191, 1.1%), commitments for the purchase of established dwellings excluding refinancing (up 26, 0.1%) and commitments for the construction of dwellings (up 14, 0.3%), while a fall was recorded in commitments for the purchase of new dwellings (down 33, 1.1%), The seasonally adjusted estimate for the total number of owner occupied housing commitments rose (up 2,195, 4.4%) in September 2013.

Graph: Number of Owner Occupied Dwellings Financed


Number of Owner Occupied Dwellings Financed - State (Tables 5 & 6)

Between September 2013 and August 2013, the number of owner occupied housing commitments (trend) rose in Victoria (up 212, 1.5%), New South Wales (up 19, 0.1%), the Australian Capital Territory (up 16, 1.9%), Queensland (up 16, 0.2%), Tasmania (up 11, 1.4%) and South Australia (up 4, 0.1%), while falls were recorded in Western Australia (down 81, 1.1%) and the Northern Territory (down 1, 0.3%). The seasonally adjusted estimates rose in Victoria (up 650, 4.7%), New South Wales (up 323, 2.3%), Queensland (up 312, 3.4%), South Australia (up 103, 3.0%), Tasmania (up 47, 5.9%), and the Australian Capital Territory (up 22, 2.5%), while falls were recorded in Western Australia (down 48, 0.6%) and the Northern Territory (down 25, 6.7%).


First Home Buyer Commitments (Table 9)

In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments fell to 12.5% in September 2013 from 13.7% in August 2013. Between September 2013 and August 2013, the average loan size for first home buyers rose $4,800 to $290,800. The average loan size for all owner occupied housing commitments rose $5,600 to $305,400 for the same period.


Number of Owner Occupied Dwellings Financed Excluding Refinancing (Tables 1 & 2)

The number of owner occupied housing commitments excluding refinancing (trend) was flat in September 2013, after a rise of 0.4% in August 2013. The seasonally adjusted series rose 5.0% in September 2013, after a fall of 5.6% in August 2013.

Graph: Number of owner occupied dwellings financed excluding refinancing


PURPOSE OF FINANCE (OWNER OCCUPATION)

Construction of dwellings (Tables 1 & 2)

The number of finance commitments for the construction of dwellings for owner occupation (trend) rose 0.3% in September 2013, following a rise of 0.4% in August 2013. This is the tenth consecutive rise since December 2012. The seasonally adjusted series rose 1.8% in September 2013, following a rise of 2.1% in August 2013.

Graph: Construction of dwellings


Purchase of new dwellings (Tables 1 & 2)

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) fell 1.1% in September 2013, following a fall of 0.4% in August 2013. The seasonally adjusted series fell 2.1% in September 2013, following a fall of 4.5% in August 2013.

Graph: Purchase of new dwellings


Purchase of established dwellings (including refinancing across lending institutions) (Tables 1 & 2)

The number of finance commitments for the purchase of established dwellings for owner occupation (trend) rose 0.5% in September 2013, following a rise of 0.9% in August 2013. This is the ninth consecutive rise since January 2013. The seasonally adjusted series rose 5.2% in September 2013, after a fall of 4.8% in August 2013.

Graph: Purchase of established dwellings including refinancing


Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) rose 1.1% in September 2013, following a rise of 1.5% in August 2013. This is the ninth consecutive rise since January 2013. The seasonally adjusted series rose 3.2% in September 2013, after a fall of 0.8% in August 2013.

Graph: Refinancing


TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by banks (trend) rose 0.3% in September 2013, following a rise of 0.7% in August 2013. The seasonally adjusted series rose 4.8% in September 2013, after a fall of 4.2% in August 2013.

Graph: Banks


Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 0.9% in September 2013, following a rise of 1.2% in August 2013. The seasonally adjusted series was flat in September 2013, after a fall of 2.6% in August 2013. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 1.6% in September 2013, following a rise of 1.2% in August 2013. The seasonally adjusted series rose 2.0% in September 2013, following a rise of 5.1% in August 2013.

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of September 2013, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,240,200m, up $5,282m (0.4%) from the August 2013 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $2,725m (0.3%) to $834,514m and investment housing loan outstandings financed by ADIs rose $2,557m (0.6%) to $405,686m.

Bank housing loan outstandings rose $5,167m (0.4%) during September 2013 to reach a closing balance of $1,194,831m. Owner occupied housing loan outstandings of banks rose $2,629m (0.3%) to $797,961m and investment housing loan outstandings of banks rose $2,538m (0.6%) to $396,870m.